Vivo Energy - 2nd phase of Africa transaction completes

abarrelfull wrote on 01 Mar 2012 11:43
Tags: burkina-faso cote-d'ivoire deals downstream guinea shell vitol

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Today Vitol, Helios Investment Partners (Helios) and Shell have completed the second phase of the transaction that was first announced on February 19th 2011. Vitol and Helios have acquired the majority of Shell’s shareholding in their businesses in Cote D'Ivoire, Burkina Faso and Guinea as well as the service company Africa Downstream Oil Products (ADOP), the employing company for those Vivo Energy staff who are based in South Africa. These companies will now become part of Vivo Energy, joining the seven companies that transferred to Vivo Energy on December 1st last year. These were Cape Verde, Mauritius, Madagascar, Mali, Morocco, Senegal and Tunisia.

The final 4 countries that are included in this transaction will transfer to Vivo Energy later in the year, subject to local regulatory and legal approvals. These countries are Egypt, Kenya, Uganda and Ghana. On final completion of this transaction Vivo Energy will operate more than 1300 retail stations across Africa under the Shell brand and will have access to around 1.2 million cubic metres of storage. Shell and Vivo Lubricants will have blending capacity at plants in eight countries, producing Shell branded lubricants, with the opportunity to market across Africa.

Vitol and Helios each own 40% of Vivo Energy, with Shell holding the remaining 20%. Shell and Vivo Lubricants is 50% owned by Shell and 50% owned by Vitol and Helios.

Christian Chammas, CEO of Vivo Energy, said “We are delighted to welcome these new companies to Vivo Energy. Since December last year, we have made good progress in creating a unique business for our customers in Africa. A business with ambitious plans to invest and grow, under the leadership of our country teams and the world class Shell Brand. This is an exciting time for Vivo Energy and the four new companies that have joined today will make a significant contribution to our future”.

• Vivo Energy - 2nd phase of Africa transaction completes

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